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15 October 2009

Asters Advising Telenor on USD 23.8 Billion Transaction on Creation of a New Mobile Operator

Asters is acting as a Ukrainian counsel to Telenor of Norway on the USD 23.8 billion consolidation of its mobile assets in Russia – VimpelCom telecommunications operator providing service under Beeline brand, and Ukraine – Kyivstar G.S.M., a Ukrainian mobile operator with those of a number of companies that are members of Russian Alfa Group, in the newly formed VimpelCom Ltd. to service emerging markets. VimpelCom Ltd. is incorporated in Bermuda and will be headquartered in the Netherlands.

The transaction is intended to end five years of litigation and arbitration proceedings between Telenor and Alfa Group.

On the part of Asters the transaction has been serviced by a group of lawyers, including Ganna Novodvorska, Andriy Pozhidayev, Kostya Solyar leaded by Oleksiy Didkovskiy, Asters Managing Partner, with two other partners – Igor Svechkar and Svitlana Poroschuk – also involved.

The transaction has extended to a number of jurisdictions. Asters servicing the Ukrainian part of the transaction has partnered with Orrick, Herrington & Sutcliffe.

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